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Bain Capital kicks in $2.5 million for Foundation for Business Equity
Itâs part of a broader effort to address racial inequities in the city
By Jon Chesto Globe Staff,Updated January 17, 2021, 4:31 p.m.
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Glynn Lloyd is the executive director of the Foundation for Business Equity.Stephen Russell Duncan/Photo courtesy of Foundation for Business Equity
Bain Capitalâs latest investment doesnât involve a beaten-down retail chain or a promising biopharmaceutical pioneer. Instead, the private equity giant is betting on a Boston nonprofit aimed at mentoring businesses owned by people of color.
Bain has agreed to donate $2.5 million over five years to the Foundation for Business Equity, launched in 2017 by Eastern Bankâs charitable arm. Eastern remains the foundationâs largest corporate benefactor, but Bain will
Fast-growing City Fresh Foods sells a minority stake to its employees
Partners Sheldon and Glynn Lloyd say itâs a way to address inequity
By Jon Chesto Globe Staff,Updated January 7, 2021, 3:53 p.m.
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City Fresh Foods management is selling a stake in the business to its workers via an employee stock-purchase program. CEO Sheldon Lloyd posed at the company.Jonathan Wiggs/Globe Staff
City Fresh Foods in Roxbury is in high demand, as the food provider has raced to distribute locally produced meals to homes in and around Boston during the pandemic on behalf of various nonprofit agencies.